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Dec 31, 2012
12/12
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and if no agreement, taxes will go up for all americans. in fact, the average american family would see a tax increase of more than $3,400. as congress convened, even the senate chaplain praying to avoid what the president first called "self-inflicted wounds." let's bring in jon karl. he's been at his post every step of the way. the source has told you the vice president has been called in on this. >> reporter: that's right. i'm told the vice president is now playing a direct role in these negotiations, trying to get to a deal, a last-minute deal, a key player in the final hours. president obama set off the high-stakes weekend scramble friday night, imploring congressional leaders to take action immediately. >> the american people are not going to have any patience for a politically self-inflicted wound to our economy. >> reporter: with that harry reid and mitch mcconnell launched a last-ditch effort to craft a bipartisan plan to that would at the very least, protect most people from a big tax hike going into effect on new year's day. the s
and if no agreement, taxes will go up for all americans. in fact, the average american family would see a tax increase of more than $3,400. as congress convened, even the senate chaplain praying to avoid what the president first called "self-inflicted wounds." let's bring in jon karl. he's been at his post every step of the way. the source has told you the vice president has been called in on this. >> reporter: that's right. i'm told the vice president is now playing a direct...
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Dec 31, 2012
12/12
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republicans want a higher income tax threshold. republicans want to keep the estate tax from going up. and there's no agreement on what to do about automatic spending cuts. those are set to go into effect on january 2. >>> now to a deadly bus crash on a slick highway in eastern oregon. a tour bus careened off an icy section of interstate 84 yesterday morning and tumbled down a steep embankment, killing 9 and injuring more than 20 others. the bus was traveling to vancouver from las vegas. the driver survived but was too badly hurt to speak with police. >>> here is your new year's eve forecast. up to a foot of mountain snow in the southern rockies. 5 inches from kansas to southern illinois. thunderstorms from much of texas, oklahoma city, little rock and memphis. rain and mountain snow in the pacific northwest. flurries from michigan to northern new england. >> chilly from the west coast to the midwest and northeast. 20s in the northern rockies. just 2 degrees in fargo and 14 in minneapolis. 30s from chicago to new york. so just bund
republicans want a higher income tax threshold. republicans want to keep the estate tax from going up. and there's no agreement on what to do about automatic spending cuts. those are set to go into effect on january 2. >>> now to a deadly bus crash on a slick highway in eastern oregon. a tour bus careened off an icy section of interstate 84 yesterday morning and tumbled down a steep embankment, killing 9 and injuring more than 20 others. the bus was traveling to vancouver from las...
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Dec 30, 2012
12/12
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forcing tax increases and lactose intolerance on america this morning. jon karl, thank you very much. jon, by the way, has a big show this morning. senators chuck schumer and jon kyl debating the cliff. that is later on "this week." >>> a lot of news developing overnight. we go to mr. ron claiborne who has extraordinary videotape. >>> out of russia. a plane crash outside of moscow. we'll begin with this stunning video. the plane overshot the runway and careened into traffic and abc's kirit radia has the story. >> reporter: you're about to see the terrifying moment of impact as the russian passenger jet slams into a busy highway. watch again. you can see the plane's tire colliding with the moving car. and listen closely. you can hear the squealing brakes and crushing metal. the crash took place on saturday at an airport outside moscow. the red wing airlines flight broke through a barrier fence shattering into three pieces and bursting into flames before skidding to a stop at the edge of the highway. witnesses rushed to pull survivors out of the wreckage.
forcing tax increases and lactose intolerance on america this morning. jon karl, thank you very much. jon, by the way, has a big show this morning. senators chuck schumer and jon kyl debating the cliff. that is later on "this week." >>> a lot of news developing overnight. we go to mr. ron claiborne who has extraordinary videotape. >>> out of russia. a plane crash outside of moscow. we'll begin with this stunning video. the plane overshot the runway and careened into...
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Dec 28, 2012
12/12
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automatic tax hikes and smaller paychecks hang in the balance. >>> an american military hero the four star general known as stormin' norman schwarzkopf has died. >>> 16 deaths blamed on the most recent winter storm with another one on the way. >>> a fiscal milk cliff could be looming. thieves clean out a walmart, including guns, and bears over the bruins in the holiday bowl. "early today" starts right now. >> announcer: this is "early today" for friday, december 28th, 2012. >>> good morning, i'm mara schiavocampo. even as the finger pointing continues on capitol hill this morning there is new hope for a deal to avoid that fiscal cliff. president obama will be meeting with congressional leaders later today. nbc's danielle leigh joins us live with the latest on capitol hill. danielle, what is the datest in terms of what we can expect in the next coming days and the likelihood that they can reach a deal? >> reporter: mara, good morning. well, this meeting that is the last-minute meeting at the white house is going to be integral. they need to see progress in this meeting if they're going
automatic tax hikes and smaller paychecks hang in the balance. >>> an american military hero the four star general known as stormin' norman schwarzkopf has died. >>> 16 deaths blamed on the most recent winter storm with another one on the way. >>> a fiscal milk cliff could be looming. thieves clean out a walmart, including guns, and bears over the bruins in the holiday bowl. "early today" starts right now. >> announcer: this is "early today"...
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Dec 29, 2012
12/12
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so what is the great tax problem we have in the united states? we don't have a tax problem. we have a political problem in that we are incapable of the mounting the kind of campaign to go and get the money where it is and where it has always been and where it was in the 1930s and where it was taken from by mr. roosevelt to get us through that crisis with a lot less suffering than would otherwise have happened then or that is happening now and there we are back to europe where the europeans are saying we will not tolerate this. over the last few years this issue has become tight in europe. my guess is we are going to see the ramifications of this as europe is literally torn apart with inculcation, reverberations in our society that will touch everyone in this room and everyone watching. >> we want to get to some of the questions from the audience but i won't let you go without talking about the possibility of a successful cooperative year in the united states as an alternative to corporate capitalism. >> that is a wonderful question. let me give a context. what was done in th
so what is the great tax problem we have in the united states? we don't have a tax problem. we have a political problem in that we are incapable of the mounting the kind of campaign to go and get the money where it is and where it has always been and where it was in the 1930s and where it was taken from by mr. roosevelt to get us through that crisis with a lot less suffering than would otherwise have happened then or that is happening now and there we are back to europe where the europeans are...
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Dec 27, 2012
12/12
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their taxes will go up just next year, $7,500. and lebron james, you know, the guy made about $53 million last year. his taxes, just next year, would go up $2.4 million. >> ouch. >> reporter: poor lebron. >> indeed. we say it's five days away. but the idea is, we can't get this done if they reach a deal 15 minutes before the deadline clears. are we already past the point of no return? >> we are already virtually certain that we're going to go over this fiscal cliff. these guys suddenly came to an agreement over the next few days, they could pass it at the beginning of january. and we could not see many of the impacts. but i wouldn't be optimistic about that. >> jonathan karl, i have a feeling i'll see you here around 7:07 tomorrow morning. thank you, jon. >> amy? >>> let's go to paula faris with the other top stories develop right now. paula? >> we have an update on 41. we begin with growing concern about the health of former president george h.w. bush. he has suffered a setback. mr. bush is in intensive care after doctors were un
their taxes will go up just next year, $7,500. and lebron james, you know, the guy made about $53 million last year. his taxes, just next year, would go up $2.4 million. >> ouch. >> reporter: poor lebron. >> indeed. we say it's five days away. but the idea is, we can't get this done if they reach a deal 15 minutes before the deadline clears. are we already past the point of no return? >> we are already virtually certain that we're going to go over this fiscal cliff....
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Dec 29, 2012
12/12
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and what about the state -- estate tax. >> the estate tax punishes family farmers in my district and small business people. that money has been taxed a lot of times people have to selllet family farm to pay the taxes or family business it is it a shame and we need to get it fixed and solved. we need permanence and a bigger exemption and something like we have today would make it work. >> and congressman, what about the debt limit. we'll hit the debt ceiling, 16.4 trillion . is that going to be worked in this piece of legislation or is that after the new year. >> i hope that we are able to work it in this legislation. then we would avert another man made crisis that we are all too good at doing these days . ive would hope it is part of the package but should never be a part of the negotiation. i know you all discussed many, many times is something that is raised routinely over the last 50 years and something in the law and doesn't save us or spending more money it just shuts the government down . risks the full faith and credit of the united states it is it about recognizing the debts
and what about the state -- estate tax. >> the estate tax punishes family farmers in my district and small business people. that money has been taxed a lot of times people have to selllet family farm to pay the taxes or family business it is it a shame and we need to get it fixed and solved. we need permanence and a bigger exemption and something like we have today would make it work. >> and congressman, what about the debt limit. we'll hit the debt ceiling, 16.4 trillion . is that...
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Dec 28, 2012
12/12
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this law excuses homeowners from paying that tax. this law is expiring in a few days as part of the fiscal cliff. if congress does nothing, homeowners selling at a loss will have a big tax bill to deal with. it could be in the tens of thousands of dollars. it it comes at a time when they can least afford it. >> how are the markets doing today with all the news about the fiscal cliff and going over it being a possibility? >> markets are selling off just a bit. the dow is down 75 points. with rumors of congress coming back into session over the weekend, we did see the markets turn around a bit yesterday. now the selloff continues. there's just not a lot of confidence that a deal can get done. the reason you're seeing the dow down 76 points. >> all right, alison kosik at the new york stock exchange. thank you. >>> chicago reached a dubious milestone overnight. a shooting victim on the west side became the city's 500th homicide of the year. police say the 40-year-old man was shot in the head outside a convenience store. no arrests were m
this law excuses homeowners from paying that tax. this law is expiring in a few days as part of the fiscal cliff. if congress does nothing, homeowners selling at a loss will have a big tax bill to deal with. it could be in the tens of thousands of dollars. it it comes at a time when they can least afford it. >> how are the markets doing today with all the news about the fiscal cliff and going over it being a possibility? >> markets are selling off just a bit. the dow is down 75...
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Dec 28, 2012
12/12
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with incomes of $174,000, they'll pay some $7,500 more in taxes. and it's not just taxes. on january 1, unemployment benefits expire for some 2 million people. you can expect one last effort, including a meeting at the white house with congressional leaders to try to prevent the fiscal cliff from happening. but with just four days left until everybody's taxes go up, there's not a lot of optimism that it can be done in time. jonathan karl, abc news, new york. >>> tributes are pouring in for retired general norman schwarzkopf. the general, nicknamed stormin' norman, died yesterday in tampa from pneumonia. schwarzkopf commanded operation desert storm, the coalition of some 30 countries that drove iraqi forces from kuwait back in 1991. in retirement, he supported charitable causes and resisting calls to run for public office. norman schwarzkopf was 78. >>> for the second time this month, a man has been pushed to his death in the path of a new york subway train. last night, eyewitnesss say a mumbling woman shoved a man onto the tracks just as the train was pulling into an eleva
with incomes of $174,000, they'll pay some $7,500 more in taxes. and it's not just taxes. on january 1, unemployment benefits expire for some 2 million people. you can expect one last effort, including a meeting at the white house with congressional leaders to try to prevent the fiscal cliff from happening. but with just four days left until everybody's taxes go up, there's not a lot of optimism that it can be done in time. jonathan karl, abc news, new york. >>> tributes are pouring in...
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Dec 27, 2012
12/12
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obama and congress can reach a deal by the new year, across-the-board tax increases and deep spending cuts will be automat liically taking effect. and while the president takes his red-eye flight back here to d.c., the first lady and their daughters are staying in hawaii. >> the first couple sat down with our very own barbara walters before their vacation. we pick up their conversation with talk about their family. >> i want to talk a bit about the girls. we've been watching them grow up from little girls to young ladies. malia recently got her first cell phone. do you monitor it and see who she calls or who she texts? >> i give my daughter, at this age, i give her a long rope. and there is monitoring, because we have rules. but monitoring may be, you never know when i'm going to walk in your room and i'm going to definitely ask you, who are you talking to? and are you talking about school work? >> and they're not very good at lying. we joke sometimes about how malia is getting to the age now, boys start calling and sort of -- i always talk about how one of the main incentives for run
obama and congress can reach a deal by the new year, across-the-board tax increases and deep spending cuts will be automat liically taking effect. and while the president takes his red-eye flight back here to d.c., the first lady and their daughters are staying in hawaii. >> the first couple sat down with our very own barbara walters before their vacation. we pick up their conversation with talk about their family. >> i want to talk a bit about the girls. we've been watching them...
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Dec 27, 2012
12/12
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senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short-term spending cuts until a bigger deal can be reached. >> it is going to be a patch because in four days we can't solve everything. >> while senators try to brave the bad weather in many parts of the country in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. house republicans scuttled a proposal from speaker john boehner last week, and 48% of americans say they are to blame if no deal is reached. >> both sides here have a problem with the american people, and it's why congress has an 11% job approval rating. >> frank lund says americans are fed up with gridlock in washington. >> there is no compromise, and i think that's going to grow as a concern among the public as we move into 2013. >> even starbucks is urging both sides to compromise. its employees are now writing "come together" on coffee cups in all washington, d.c., area stores. now, if congress does not act, experts believe the economy will
senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short-term spending cuts until a bigger deal can be reached. >> it is going to be a patch because in four days we can't solve everything. >> while senators try to brave the bad weather in many parts of the country in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. house republicans scuttled a proposal...
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Dec 27, 2012
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our state's pay high taxes. when were there when katrina victims, that's beside the point of red or blue states. you do what you have to do. that's what needs to be done right now. not only is the budget critical right now, sandy's critical and a lot of other thing that is need to be done there. amt. >> all right. >> look at the folks -- >> congressman. >> don't have a payroll. >> congressman, i have to cut you off. >> okay. >> but thank you so much. >> thank you, craig. >> keep us posted on the progress if there is any. >>> we have developing news now from the senate. just moments ago, vice president joe biden swore in hawaii's lieutenant governor brian schatz as the state's new u.s. snr. >> do you swear to support and defend the constitution of the united states against all enemies foreign and domestic, that you will bear true faith and allegiance to the same, that you take this obligation freely without any mental reservation or purpose of evasion and that you will well and faithfully discharge the duties of
our state's pay high taxes. when were there when katrina victims, that's beside the point of red or blue states. you do what you have to do. that's what needs to be done right now. not only is the budget critical right now, sandy's critical and a lot of other thing that is need to be done there. amt. >> all right. >> look at the folks -- >> congressman. >> don't have a payroll. >> congressman, i have to cut you off. >> okay. >> but thank you so much....
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Dec 27, 2012
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no agreement would mean spending cuts and historic tax hikes for virtually every american. >>> officials in newtown have a message for people who want to send gifts to the grief-stricken town. please don't. they say gifts have arrived in such numbers, they overwhelmed the small community's ability to process them. a fund established after the shooting to support newtown has grown to $3.5 million. >>> meanwhile, hundreds of schoolteachers plan to attend firearms training today in salt lake city. the 200 teachers come from districts across utah. they have volunteered for the concealed weapons training. organizers say in past years, only a few dozen teachers attended the training. they're expecting an overflow crowd because of this month's tragedy in newtown, connecticut. >>> west webster volunteer firefighters, who had been in guarded condition, are now being upgraded to satisfactory condition. the hospital released a statement on their behalf saying they're humbles and overwhelmed by the outpouring of well-wishes for us and our families, end quote. a police officer who was slightly injure
no agreement would mean spending cuts and historic tax hikes for virtually every american. >>> officials in newtown have a message for people who want to send gifts to the grief-stricken town. please don't. they say gifts have arrived in such numbers, they overwhelmed the small community's ability to process them. a fund established after the shooting to support newtown has grown to $3.5 million. >>> meanwhile, hundreds of schoolteachers plan to attend firearms training today...
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Dec 27, 2012
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. >> the country is edging closer to the folly of the so-called fiscal cliff, a series of tax hikes and spending cuts set to take effect in five days. >> there still seems to be no signs of a compromise acting congress and president obama. >> president obama return to washington to get the credit shortage of medication. is a video the president leaving. >> house and senate members are expected to reconvene today as well. >> without a budget agreement, automatic tax increase is for everyone in the spending cuts will be triggered in the new year. >> the main dispute continues to be over taxes. >>, of the kron 4 morning news changes are coming to a netflix starting next year. how the company wants to get users more connected socially and next. >> the web more attractive weather and headlines when we come back >> wexcome backed. >> time is 4:10. >> net flicks is adding more social features to it streaming media service in the u.s.. >> the company confirms that the congress passed a bill that drops restrictions on sharing user's video rental history. these revisions now with president obama
. >> the country is edging closer to the folly of the so-called fiscal cliff, a series of tax hikes and spending cuts set to take effect in five days. >> there still seems to be no signs of a compromise acting congress and president obama. >> president obama return to washington to get the credit shortage of medication. is a video the president leaving. >> house and senate members are expected to reconvene today as well. >> without a budget agreement, automatic tax...
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Dec 27, 2012
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americans' taxes are approaching the wrong direction. come the first of this year, americans will have less income they have today. if we go over the cliff, it looks like that is or where headed. the house of represent is as we speak has four days left after today. they are not here. the speaker has not told in the they have 48 hours notice. >> if i cannot imagine their consciousness. we are here trying to get something done. >> if nothing is done the bush era tax-cut expire at the end of the year. plus a 2% payroll tax how they will expire as well. >> the american family will release 4% more their paycheck to taxes if no deal is reached by the end of the year. >> also sharp spending cuts will kick in. >> we have >guidner warning about the u.s. debt ceiling- to-timothyguidnr. >> white house as president obama has made several phone calls to congressional leaders to talk about the fiscal cliff. >> the present call harry reid as well as house speaker john baker, senate republican leader mitch mcconnell and house democratic leader nancy pel
americans' taxes are approaching the wrong direction. come the first of this year, americans will have less income they have today. if we go over the cliff, it looks like that is or where headed. the house of represent is as we speak has four days left after today. they are not here. the speaker has not told in the they have 48 hours notice. >> if i cannot imagine their consciousness. we are here trying to get something done. >> if nothing is done the bush era tax-cut expire at the...
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Dec 27, 2012
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will pay more in payroll taxes. families making between 40 and $65,000 a year will have to pay an extra two grand to the government. gregg: coming up we'll talk with republican nick mulvaney whose house budget committee is obviously on the forefront of the fiscal talk. so we'll try to get the latest from him in just a moment. patti ann: meanwhile, gregg, we have new warnings from the treasury department that if a fiscal deal isn't reached our government will have to turn to extraordinary measures when the debt limit hits its ceiling. $16.4 trillion probably on monday. fox business network's stuart varney joins us now. hi, stu. you say this is the big story people aren't talking about? >> it is a sleeper issue, patti ann. on monday the government officially runs out of money and it can not borrow anymore. so it will have to shift all kind of cash around to make sure they can pay their bills and maybe they can do that for a couple of months. means you can kick the can, eight weeks be maybe, until the absolute crunch c
will pay more in payroll taxes. families making between 40 and $65,000 a year will have to pay an extra two grand to the government. gregg: coming up we'll talk with republican nick mulvaney whose house budget committee is obviously on the forefront of the fiscal talk. so we'll try to get the latest from him in just a moment. patti ann: meanwhile, gregg, we have new warnings from the treasury department that if a fiscal deal isn't reached our government will have to turn to extraordinary...
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Dec 28, 2012
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, instead just voting to reinstate a tax cut, that then it sort of president obama's tax cut so he gets credit for that. >> do you have any sense of what will happen around that table today? who called the meeting if there's an agenda or are they going to sit around and stare at each other until one of them blinks? >> we don't have a sense. i'm sure that we will be getting a sense. this is supposed to take place at 3:00 p.m. at the white house. the vice president, president and four top congressional leaders. we don't know what will be said. i think we will likely hear from some camps afterwards. >> if you are wondering what a trip down the fiscal cliff might mean for your paycheck, for your 401(k), look no further than yesterday's dow. at the opening bell, a dive of more than 1%. investors finding little hope for the fiscal cliff compromise on capitol hill. when word came down two sides might be meeting. reversal of fortune. the dow rebounding for a while before finishing slightly lower. >>> a nation this morning remembering the american general credited with orchestrating one of the m
, instead just voting to reinstate a tax cut, that then it sort of president obama's tax cut so he gets credit for that. >> do you have any sense of what will happen around that table today? who called the meeting if there's an agenda or are they going to sit around and stare at each other until one of them blinks? >> we don't have a sense. i'm sure that we will be getting a sense. this is supposed to take place at 3:00 p.m. at the white house. the vice president, president and four...
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Dec 27, 2012
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. >> unless the president obama and congress can reach a deal by the new year, tax increases and spending cuts will take deep effect. >> president obama's re-election was one of the biggest political stories of the year. >> with the first of our year enders, here's abc's karen travers. >> reporter: president obama had to overcome a well funded opponent, struggling economy and voter doubts that he had the right agenda to turn the nation around. and after a roller coaster season, he got them. mitt romney may have started off at the front runner, but to win the republican nomination, he had to fend off some feisty challengers. >> he's the worst republican in the country to put up against president obama. >> reporter: and overcome some self-inflicted wounds. after 50 primary contests, romney clenched the nomination and it was on to the general election. >> it will be a choice between -- >> two very different paths. >> reporter: their battle focused on the economy. >> we can't afford another four years like the last four years. >> we need more tax cuts for working americans. >> reporter: early
. >> unless the president obama and congress can reach a deal by the new year, tax increases and spending cuts will take deep effect. >> president obama's re-election was one of the biggest political stories of the year. >> with the first of our year enders, here's abc's karen travers. >> reporter: president obama had to overcome a well funded opponent, struggling economy and voter doubts that he had the right agenda to turn the nation around. and after a roller coaster...
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Dec 28, 2012
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but with just four days left until everybody's taxes go up, there's not a lot of optimism that it can be cone in time. jonathan karl, abc news, new york. >>> tributes are pouring in for retired general norman schwartzcopf. the general, nicknamed stormin' norman, died yesterday in tampa from pneumonia. he commanded a coalition of some 30 countries that drove iraqi forces from kuwait back in 1991. in retirement, he supported charitable causes and resisting calls to rub for public office. norman schwartzcopf was 78. >>> for the second time this month, a man has been pushed to his death in the path of a new york subway train. last night, a woman shoved the man on the tracks just as the train was pulling into the station on queens. it's not clear if she knew the victim. new york police are reviewing surveillance video recorded on the platform to try to identify the victim and the suspect. >> this is the second time this happened this month. the first one happened in times square. this one happened in queens. i love the fact that new york city has a subway system. but every time i'm putting
but with just four days left until everybody's taxes go up, there's not a lot of optimism that it can be cone in time. jonathan karl, abc news, new york. >>> tributes are pouring in for retired general norman schwartzcopf. the general, nicknamed stormin' norman, died yesterday in tampa from pneumonia. he commanded a coalition of some 30 countries that drove iraqi forces from kuwait back in 1991. in retirement, he supported charitable causes and resisting calls to rub for public office....
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Dec 30, 2012
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. >> the homestead tax credit is a credit given by the state of maryland that caps the assessment of your property, your real estate, your personal residence, basically. >> we should all closely watch negotiations on capitol hill. if we go over the fiscal cliff, our 2013 taxes will be dramatically affected and it's significant me to -- enough that most will see the difference in the paychecks immediately. >> if you are an employee making $100,000 a year, automatically you'll see a $2,000 increase in social security withholding. >> for more tax tips or information, visit wbaltv.com. >> flying is getting easier for some travelers. the pilot program in place at airports. exciting news for bargain shoppers. when a new nordstrom's rack will pop up and local retailers hope to cash in on the ravens' success. >> we begin this morning's consumer alert with exciting news for shoppers in columbia. a nordstrom's rack is opening up as early as next spring at columbia crossing, located off of the jessop exit at i-95. the merchandise is in season and on trend, separate nordstrom stores. it's usuall
. >> the homestead tax credit is a credit given by the state of maryland that caps the assessment of your property, your real estate, your personal residence, basically. >> we should all closely watch negotiations on capitol hill. if we go over the fiscal cliff, our 2013 taxes will be dramatically affected and it's significant me to -- enough that most will see the difference in the paychecks immediately. >> if you are an employee making $100,000 a year, automatically you'll...
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Dec 28, 2012
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he will be able to get the taxes on higher earners, tax increases that he's expecting to get. i think there's something for both sides here. i think it is worse for republicans in the longer term if we don't have a deal but i don't think this is going to look great for anybody short term. >> it's the illusion of progress. >> it's the illusion of progress, but you know look if we don't have a deal we are opening markets that are going to be in a bit of turmoil next week. that is what voters are going to see. they're not going to look at a balance sheet and say this is actually worse for boehner's caucus than it is for the president. >> not just here in the united states but the world is watching as we do all this. >> that's right, there are serious, serious global implications in terms of the recovery for the u.s. economy, this is obviously going to have a bad effect. >> thanks, maggie haberman. >> thank you. >> an interesting weekend we'll be watching. thanks very much. >>> this morning the white house is calling general norman schwarzkopf an american original. general colin p
he will be able to get the taxes on higher earners, tax increases that he's expecting to get. i think there's something for both sides here. i think it is worse for republicans in the longer term if we don't have a deal but i don't think this is going to look great for anybody short term. >> it's the illusion of progress. >> it's the illusion of progress, but you know look if we don't have a deal we are opening markets that are going to be in a bit of turmoil next week. that is what...
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to cut taxes. a much easier vote to cast for republicans as well as some democrats. as for the president, is he nhe scheduled to leave his family tonight, come back to washington tomorrow morning, in the hopes of helping his fellow democrats try to find enough republicans to pass his plan. but of course this goes without saying that was a plan that most if not all republicans campaigned very strongly against. >> the most likely scenario is actually did go off the cliff now. ryan liza is our correspondent from washington. you look at this and we're hearing echos of the past. the republican speaker from the house of representatives said, and i have it here somewhere, i don't want to be critical of john, meaning john boehner, but if you don't ever bring something to the floor without the votes. so this is what happened last thursday night where he brought this bill to the floor, his plan b, and it went nowhere. was that a major miscalculation for him? >> it was. look, denny was the speakner nea differ
to cut taxes. a much easier vote to cast for republicans as well as some democrats. as for the president, is he nhe scheduled to leave his family tonight, come back to washington tomorrow morning, in the hopes of helping his fellow democrats try to find enough republicans to pass his plan. but of course this goes without saying that was a plan that most if not all republicans campaigned very strongly against. >> the most likely scenario is actually did go off the cliff now. ryan liza is...